As the world becomes more wired and electronic storage becomes cheaper than the cost of paper, the protection of information becomes paramount. But, the ease with which information can be copied and propagated causes serious information privacy issues. Keeping information safe and secure is thus one of the biggest issues facing the information technology (IT) industry today.
There are several areas of concern regarding the protection of information including the danger of unrecoverable loss of the information itself and defense against unauthorized copying of the digital information. Also, the control of access to the information may pose certain risk factors to the owner of the information and to the thousands of other organizations who hold copies of this information for business reasons. Ultimately, there may be a potential loss of financial opportunity based on the use of the information.
Unrecoverable loss of data is familiar to nearly everyone. Important documents, images, and financial information are frequently lost not only for individuals but small organizations as well as large. Unrecoverable loss may undermine a business' future to continue or operate.
Further, unauthorized replication of information is a serious problem and may be illustrated with the notion of information theft of credit card numbers. While it is unlikely that the illicit copying of digital objects may be completely eradicated, original access to personal information needs to be controlled tighter. For example, access to medical records, credit card and other financial information needs to be managed so that privacy is maintained more rigorously. Additionally, the transit of this personal information needs to be protected as well as facilitated, such as, the passing of credit card and transaction information, medical records, and the like.
Ultimately, information is valuable. The illicit use of information could cause a financial loss to the owner or confer an unfair advantage to another party. For example, organizations collect personal information and preferences and sell them on the open market as phone lists, market research, or the like. The individual who owns this information (i.e., the person themselves) is never directly or indirectly compensated. Instead, the information compilers or middlemen essentially take an individual's information and sell the information. Not only does the individual not get compensated for the middlemen's and advertisers' use of the information but are also indiscriminately solicited or spammed as a result.
When information is stored over time, the formats may become obsolete. As newer formats (i.e., the newest format) become available, stored data inevitably becomes dated and potentially useless. Owners of the data are often required to acquire proper data conversion tools and then perform the conversion themselves if they do not want their data to eventually become stale and potentially useless, or at least more difficult to use or access. If users of the stored data, such as commercial marketers, have access to the data, then the data owner is typically obligated to keep the data in the latest formats if they expect the data to be of value to the users. However, keeping that stored data in the latest formats typically require purchases of newer applications, which may be very costly.